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HR Analytics Market to Accrue $11 Bn, Globally, by 2031 at 16.6% CAGR: Allied Market ResearchScaling need for analyzing data generated through a slew of HR activities including training, employee recruitment, employee engagement, attendance, compensation, and performance management to drive the growth of the global HR analytics market. PORTLAND, Ore., Oct. 19, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "HR Analytics Market by Offering (Solution and Services), by Deployment Mode (On-Premise and Cloud), by Enterprise Size (Large Enterprises and SMEs), by Application (Candidate Recruitment, Employee Retention, Employee Learning and Development, Employee Engagement, and Workforce Management), and by Industry Vertical (BFSI, Manufacturing, Healthcare, Media and Entertainment, Retail and E-commerce, IT and Telecom, Transportation and Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global HR analytics industry was estimated at $2.4 billion in 2021, and is set to reach $11 billion by 2031, growing at a CAGR of 16.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.  Download Free Sample Report (345 Pages PDF with Insights, Charts, Tables, Figures): Drivers, restraints, and opportunities Scaling need for analyzing data generated through a slew of HR activities including training, employee recruitment, employee engagement, attendance, compensation, and performance management to drive the growth of the global HR analytics market. Nevertheless, less availability of skilled workforce can hamper the expansion of the global market. However, growing demand for enhancing the efficiency of HR activities such as employee retention, performance monitoring & evaluation, and recruitment will open new growth avenues for the global market. Covid-19 scenario:
The solution segment to dominate the global market in terms of revenue in 2031 Based on the offering, the solution segment contributed the highest market share in 2021, accounting for more than two-thirds of the global HR analytics market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. The growth of the segment during the forecast period can be attributed to the large-scale adoption of HR analytics solutions by HR teams for automating HR processes. However, the services segment will record the highest CAGR of 18.0% during the forecast timeline. The growth of the segment over the assessment period is attributed to a surge in the adoption of professional services for the integration and deployment of HR analytics solutions. b>The workforce management segment to hold the major market share over 2022-2031 The workforce management segment to hold the major market share over 2022-2031On basis of the application, the workforce management segment contributed to the largest market share in 2021, accounting for more than two-fifths of the global HR analytics market share. Furthermore, the same segment is anticipated to dominate the growth of the global market over the forecast period. The growth of the segment over the assessment period is subject to the massive use of HR analytics for enhancing the business decision-making capabilities of a firm. However, the employee segment is predicted to record the highest CAGR of 21.1% over the forecast period. The growth of the segment over the forecast timeline can be credited to the ability of HR analytics in offering insights, visibility, and actionable data of employees to HR for employee retention. The segment to dominate the market share during the forecast timeframe In terms of industry vertical, the BFSI segment contributed to the largest market share in 2021, accounting for more than one-fourth of the global HR analytics market share. Furthermore, the same segment is anticipated to dominate the growth of the global market over the forecast period. The growth of the segment over the assessment period can be due to the rise in the use of HR analytics solutions for employee management activities. However, the retail and e-commerce segment is predicted to record the highest CAGR of 19.8% over the forecast period. The growth of the segment over the forecast timeline can be credited to the ability of HR analytics in automating HR processes. Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/31936 North America to retain global market domination over 2022-2031 By Region, North America contributed notably toward the global HR analytics market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global market share in 2021. The same region is slated to contribute significantly toward the global market size in 2031. The growth of the regional market over the forecast timeline is due to the escalating demand for HR analytics in the countries such as the U.S. and Canada. However, the Asia-Pacific HR analytics industry is anticipated to record the highest CAGR of 18.9% over 2022-2031. The regional market growth over the projected timespan is owing to an increase in digital transformation and economic growth of the region leading to large-scale acceptance of HR analytics in the Asia-Pacific zone. Major market players
The report analyzes these key players in the global HR analytics market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion. Buy this Report at: https://www.alliedmarketresearch.com/checkout-final/c1ce376e6d8b6a38f3fe8298312197a8 Trending Reports in ICT & Media Industry (Book Now with 10% Discount): HR Payroll Software Market Expected to Reach $55.69 Billion by 2031 Sales Intelligence Market Expected to Reach $7.35 Billion by 2030 Candidate Skills Assessment Market Expected to Reach $ 5.64 Billion by 2030 Time and Attendance Software Market Expected to Reach $5,312 Million by 2030 Workforce Management Market Expected to Reach $9,391 Million by 2027 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
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